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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2023
Shareholders' Equity [Abstract] |
Schedule of Compensation Costs Charged Against Income for the 2011 Share Incentive Plan | The compensation costs charged against income for the 2011 Share Incentive Plan were comprised as follows:
|  | Years Ended December 31, |
|  | 2 0 2 3 |  |  | 2 0 2 2 |  |  | 2 0 2 1 |
|  | U.S. dollars in thousands |
Cost of revenues |  | $ | 60 |  |  | $ | 63 |  |  | $ | 49 |
Research and development expenses |  |  | 180 |  |  |  | 159 |  |  |  | 90 |
Selling and marketing expenses |  |  | 3 |  |  |  | 1 |  |  |  | 4 |
General and administrative expenses |  |  | 38 |  |  |  | 35 |  |  |  | 28 |
|  | $ | 281 |  |  | $ | 258 |  |  | $ | 171 |
Schedule of Status of the 2011 Share Incentive Plan | The following is a summary of the status of the 2011 Share Incentive Plan as of December 31, 2023, 2022 and 2021, and changes during the years ended on those dates:
|  | Years Ended December 31, |
|  | 2 0 2 3 |  |  | 2 0 2 2 |  |  | 2 0 2 1 |
|  | Number |  |  | Weighted average exercise price |  |  | Number |  |  | Weighted average exercise price |  |  | Number |  |  | Weighted average exercise price |
Options outstanding at the beginning of year |  |  | 452,500 |  |  | $ | 0.003 |  |  |  | 269,500 |  |  | $ | 0.003 |  |  |  | 266,500 |  |  | $ | 0.003 |
Changes during year: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Granted (a) |  |  | 132,000 |  |  | $ | 0.003 |  |  |  | 304,000 |  |  | $ | 0.003 |  |  |  | 172,000 |  |  | $ | 0.003 |
Exercised |  |  | (60,500 | ) |  | $ | 0.003 |  |  |  | (67,000 | ) |  | $ | 0.003 |  |  |  | (71,500 | ) |  | $ | 0.003 |
Forfeited |  |  | (15,000 | ) |  | $ | 0.003 |  |  |  | (54,000 | ) |  | $ | 0.003 |  |  |  | (96,500 | ) |  | $ | 0.003 |
Expired |  |  | (8,000 | ) |  | $ | 0.003 |  |  |  | - |  |  | $ | 0.003 |  |  |  | (1,000 | ) |  | $ | 0.003 |
Options outstanding at the end of year |  |  | 501,000 |  |  | $ | 0.003 |  |  |  | 452,500 |  |  | $ | 0.003 |  |  |  | 269,500 |  |  | $ | 0.003 |
Options exercisable at the end of year |  |  | 30,000 |  |  | $ | 0.003 |  |  |  | 25,500 |  |  | $ | 0.003 |  |  |  | 30,000 |  |  | $ | 0.003 |
Weighted average grant date fair value of options granted during the year (b) |  |  |  |  |  | $ | 1.28 |  |  |  |  |  |  | $ | 1.58 |  |  |  |  |  |  | $ | 1.79 |
(a) | In the years ended December 31, 2023 and 2022 and 2021, the options were granted with an exercise price equal to par value of NIS 0.01 ($0.003).
(b) | The fair value of each stock option granted is computed on the date of grant according to the Black-Scholes option pricing model with the following assumptions:
Schedule of Stock Option Granted is Computed on the Date of Grant According to the Black-Scholes Option Pricing Model | The fair value of each stock option granted is computed on the date of grant according to the Black-Scholes option pricing model with the following assumptions:
|  | Years Ended December 31, |
|  | 2 0 2 3 |  |  | 2 0 2 2 |  |  | 2 0 2 1 |
Dividend yield |  |  | 10.48 | % |  |  | 9.69 | % |  |  | 8.73 | %
Expected volatility* |  |  | 51 | % |  |  | 30 | % |  |  | 34 | %
Average risk-free interest rate |  |  | 4.53 | % |  |  | 1.99 | % |  |  | 0.81 | %
Expected average term - in years |  |  | 3.88 |  |  |  | 3.88 |  |  |  | 3.88 |
* | Volatility is based on the historical volatility of the Company’s share price for periods matching the expected term of the option until exercise.
Schedule of Information about Options Outstanding and Exercisable | The following table summarizes information about options outstanding and exercisable as of December 31, 2023:
|  |  | Options Outstanding |  |  | Options Exercisable |
|  |  | Number |  |  | Weighted |  |  |  |  |  | Number |  |  | Weighted |  |  |  |
|  |  | outstanding |  |  | average |  |  | Weighted |  |  | exercisable |  |  | average |  |  | Weighted |
Range of |  |  | at |  |  | remaining |  |  | average |  |  | at |  |  | remaining |  |  | average |
exercise |  |  | December 31, |  |  | contractual |  |  | exercise |  |  | December 31, |  |  | contractual |  |  | exercise |
prices |  |  | 2 0 2 3 |  |  | life |  |  | price |  |  | 2 0 2 3 |  |  | life |  |  | price |
|  |  |  |  |  | Years |  |  |  |  |  |  |  |  | Years |  |  |  |
$ | 0.003 |  |  |  | 501,000 |  |  |  | 3.27 |  |  | $ | 0.003 |  |  |  | 30,000 |  |  |  | 1.45 |  |  | $ | 0.003 |

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